Navios Maritime Partners (NYSE:NMM) Sees Strong Trading Volume on Better-Than-Expected Earnings
Navios Maritime Partners (NYSE:NMM) experienced a significant increase in trading volume following a better-than-expected earnings report. The company reported $2.83 EPS for the quarter, surpassing the consensus estimate of $2.55. Revenue increased by 1.8% compared to the same quarter last year. The company announced a quarterly dividend of $0.05 per share. Weiss Ratings maintained a 'hold' rating on the stock. Several institutional investors have recently bought and sold shares of NMM. The company operates dry cargo vessels and offers seaborne transportation services.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 80,322 shares were traded during trading, a decline of 28% from the previous session's volume of 112,028 shares.The stock last traded at $52.4430 and had previously closed at $53.28.
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The shipping company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a net margin of 23.31% and a return on equity of 9.24%. The company's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.15 EPS.
Navios Maritime Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Navios Maritime Partners's dividend payout ratio is currently 1.99%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Navios Maritime Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".
Check Out Our Latest Research Report on NMM
Institutional Trading of Navios Maritime Partners
Several institutional investors and hedge funds have recently bought and sold shares of NMM. Allworth Financial LP bought a new stake in Navios Maritime Partners during the 2nd quarter valued at approximately $47,000. TD Waterhouse Canada Inc. purchased a new position in shares of Navios Maritime Partners in the 2nd quarter valued at approximately $62,000. State of Wyoming purchased a new position in shares of Navios Maritime Partners in the 1st quarter valued at approximately $157,000. Cerity Partners LLC bought a new stake in shares of Navios Maritime Partners during the second quarter valued at approximately $212,000. Finally, Aristides Capital LLC purchased a new stake in Navios Maritime Partners in the second quarter worth $228,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.
Navios Maritime Partners Stock Performance
The company has a 50 day moving average of $47.35 and a two-hundred day moving average of $43.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $1.56 billion, a PE ratio of 5.22 and a beta of 1.53.
Navios Maritime Partners Company Profile
(Get Free Report)Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.
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